EETC, Siemens Gamesa to establish 500-MW wind farm in Gulf of Suez
Updated 3/20/2025 7:43:00 AMArab Finance: The Egyptian Electricity Transmission Company (EETC) and Siemens Gamesa Renewable Energy signed an agreement to build a 500-megawatt wind farm in the Gulf of Suez, according to a statement.
Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Mahmoud Esmat attended the signing ceremony.
Under the deal, Siemens Gamesa will develop, finance, and operate the project, which will contribute to expanding the share of renewable energy in the electricity mix and achieving the state's renewable energy goals.
This comes within the framework of the state’s objectives to increase renewable energy's share of the energy mix to 42% by 2030 and 65% by 2040.
Esmat highlighted that the project would support reliance on clean energy, maximize returns from available natural resources, reduce fossil fuel use, and lower carbon emissions.
For his part, Ayman Saad, CEO of Siemens Gamesa Egypt, noted that the company’s projects contributed to providing 1.5 gigawatts of electricity through clean energy sources.
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